North American Free Trade Agreement (NAFTA)

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About NAFTA The North American Free Trade Agreement (NAFTA) is a trade agreement that sets the rules of trade and investment between Canada, the United States, and Mexico. Since the agreement entered into force on January 1, 1994, NAFTA become a state-of-the-art market-opening agreement, came into force and knew as a most tariff and non-tariff barriers to free trade and investment between the three NAFTA countries. In 1994, the North American Free Trade Agreement (NAFTA) is the world’s largest free trade zones and laying the foundations for good economic growth up and rising prosperity for Canada, the United States, and Mexico. Since then, NAFTA has demonstrated how free trade increases wealth and competitiveness, delivering real benefits …show more content…

Since it came into effect 15 years ago, North Americans have enjoyed an overall extended period of strong economic growth and rising advanced. This is because NAFTA has helped to stimulate economic growth and create higher-paying jobs across North America. It has also opened up the way for greater market competition and making more choice for purchasing power in North American such as consumers, families, farmers, and businesses. Furthermore, NAFTA has provided North American advanced in materials, technologies, investment capital, and talent available across North America. This has increasing the businesses in the three countries more competitive and also countries all around the world. With rapidly growing economies in Asia and South America challenging North America’s competitiveness, NAFTA remains sustained growth and prosperity in the region. NAFTA has proven that trade liberalization is very important in promoting transparency, economic growth, and legal certainty, with the increased global competition, Canada, the United States, and Mexico will work to strengthen the competitiveness of the North American region by continuing to pursue trade within the NAFTA region. The three countries will also continue to expand trade with other …show more content…

 Supervises the implementation and further elaboration of the Agreement and helps resolve disputes arising from its interpretation.
 Oversees the work of the NAFTA committees, working groups, and other subsidiary bodies.
NAFTA Coordinators
 Senior trade department officials designated by each country.
 Responsible for the day-to-day management of NAFTA implementation.
NAFTA Working Groups and Committees
 Over 30 working groups and committees have been established to facilitate trade and investment and to ensure the effective implementation and administration of NAFTA.
 Key areas of work include trade in goods, rules of origin, customs, agricultural trade and subsidies, standards, government procurement, investment and services, cross-border movement of business people, and alternative dispute resolution.

NAFTA Secretariat
 Made up of a “national section” from each member country.
 Maintains a court-like registry relating to panel, committee, and tribunal proceedings.
 Maintains a tri-national website containing up-to-date information on past and current

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